Economics

Hard Landing
Recession following a period of excess demand and inflation caused by severe fiscal and monetary restraints.
Hard Loan
An in-depth look at the term 'hard loan' in economics, detailing its characteristics, frameworks, historical context, and comparisons with soft loans.
Hard-core Unemployed
A detailed overview of the concept of hard-core unemployed, including its definition, historical context, and analytical frameworks.
Harmonic Mean in Economics
A dictionary entry exploring the concept and applications of the harmonic mean in economics, including comparisons with arithmetic and geometric means.
Harmonization
The process of convergence over time of tax rates and regulatory rules in countries belonging to an economic bloc.
Harrod-neutral technical progress
An economic concept where technological progress increases labor productivity but leaves the capital-output ratio unchanged.
Harrod–Domar Growth Model
An exploration of the Harrod–Domar growth model, its foundation, assumptions, and implications on economic growth.
Health Economics
A field of economics that studies economic aspects of health care provision and management.
Health Insurance
Insurance against medical expenses and loss of earnings due to accident or illness.
Heavily Indebted Poor Countries
A detailed examination of the group of 39 countries identified for potential debt relief by international financial institutions based on specific economic criteria.
Hedonic Pricing
The method of pricing a good by estimating the value of its individual *characteristics.
Herfindahl Index
A measure of firm size relative to market size used as an indicator of market concentration and competition.
Hicks-neutral technical progress
Understanding Hicks-neutral technical progress, where average and marginal products of all factors increase in the same proportion for given factor proportions.
Hicksian Demand
Understanding the concept of Hicksian demand in economics, also known as compensated demand.
Hidden Economy
An overview of hidden economy which encompasses economic activities not included in official statistics.
Hidden Unemployment
Understanding the concept of hidden unemployment and the implications it holds in economic analysis.
Homogeneous Good
A fundamental concept in economics describing goods that have uniform properties and are identical in every unit.
Hong Kong Stock Exchange
An overview of the Hong Kong Stock Exchange, established in 1891, with a market capitalization of US$2.7 trillion as of February 2016.
Hot Money - Definition and Meaning
Money in bank balances or liquid securities which is liable to rapid removal to other countries if the holders suspect that the currency will depreciate.
Household
A group of people living together with common domestic expenses, often deciding on consumption expenditure as a unit.
Household Production
Understanding the concept of household production, its significance, and how it is accounted for in different economic systems.
Human Capital
The stock of knowledge, skills, and abilities that determine the labor productivity of an individual.
Hyperinflation
A comprehensive look at hyperinflation, its definition, historical context, and its implications on the economy.
If and Only If (IFF)
Explanation of the logical equivalence between two statements denoted as 'If and Only If' (IFF)
Illiquidity
The property of an asset that is not easily converted into cash without a significant price discount.
Immigration - Definition and Meaning
An overview of immigration as it pertains to movement of foreign nationals for the purpose of residency
Imperfect Competition
A market situation in which some participants have the ability to influence prices.
Implicit Contract
An understanding between parties on acceptable forms of behaviour that is not part of any formal agreement.
Implicit Cost
Exploring the concept of implicit costs in economics, its definition and significance.
Import Duty
Detailed explanation of Import Duty and its implications in economics
Import Substitution
A strategy for the industrialization of less developed countries (LDCs), focusing on replacing imports with domestically produced substitutes.
Import Tariff
A detailed look at import tariffs, their definition, meaning, and economic implications.
Importables
Goods of types which could be imported, whether or not they actually are.
Imported Inflation
Examining the phenomenon of imported inflation and its impact on domestic price levels.
Imports
An exploration of the concept of imports, including visible and invisible imports and their economic significance.
Imputed Income
An explanation of the economic concept of imputed income, where value is attributed to non-cash benefits from the use of owned assets.
In-Kind Redistribution
Redistribution that takes the form of goods or services rather than cash to ensure consumption of intended items.
Incentive Contract
A contract that incorporates incentives designed to induce desired behaviour.
Incentives
Explanation of incentives as economic tools used to influence actions of economic agents through rewards or penalties.
Income - Definition and Meaning
A comprehensive definition and exploration of the term 'income,' its various types, and implications for individuals with and without financial assets.
Income from Employment
Income earned working for another person, firm, or government body. Can be measured including or excluding benefits in kind or net of deductions.
Income from Self-Employment
Income derived by individuals from unincorporated businesses, combining wages and returns on capital.
Income Method
Measurement approach of domestic product by calculating factor incomes received.
Income Redistribution
An overview of income redistribution, including methods, aims, and implications in economic systems.
Income Velocity of Circulation
Understanding the income velocity of circulation in the context of economic theory
Incomplete Contract
A comprehensive overview and analysis of the concept of incomplete contract in economics.
Incomplete Markets
Situations where certain goods or services cannot be traded because there is no organized market on which to trade.
Increase in the Book Value of Stocks and Work in Progress
An analysis of the increase in the book value of stocks and work in progress as shown in firms' accounts and its implications on economic indicators.
Increasing Returns to Scale
An exploration of increasing returns to scale, defining the concept, its implications, and its role in various economic frameworks.
Incumbent Firm - Definition and Meaning
An outline explaining the term 'incumbent firm' and its implications in economics, particularly within the context of market dynamics and competitive advantages.
index-linked
An economic variable whose value is tied to an index number, commonly used to adjust interest, wages, or pensions to shield against inflation.
Indifference Curve
A graphical representation of the set of commodity bundles that are ranked as equally good by a consumer.
Indirect Investment
An exploration of the concept of indirect investment, its mechanisms, and implications in financial markets.
Indirect Utility Function
The maximum utility level a consumer can achieve expressed as a function of prices and income.
Industrial Action: Definition and Meaning
An in-depth exploration of industrial action, tactics used by both workers and employers during industrial disputes.
Industrial Economics — Definition and Meaning
The field of economics devoted to the study of decision-making by firms and the interaction between firms in the marketplace.
Industrial Organization
An exploration of the field of industrial organization, which studies market structure and strategic behavior of firms.
Industrial Relations
The relations between the management and workforce of an enterprise, particularly bargaining through trade unions concerning various aspects of employment.
Industrial Sector
A comprehensive overview of the industrial sector, its definition, and its role within the economy.
Industry: Definition and Meaning
An overview of the term 'industry' in economics, its background, historical context, and major analytical frameworks.
Inefficiency
Not obtaining the maximum benefit from the use of resources in economics, leading to costly outcomes.
Inelastic Demand
An examination of the economic term 'Inelastic Demand,' its definition, implications, and relevancy in different economic frameworks.
Inequality
An examination of economic inequality, its measurement, and its impact on economies and societies.
Infant Industry
A new industry which during its early stages is unable to compete with established producers abroad, often supported by government policies.
Inflation
Inflation is a persistent increase in nominal prices, measured by price indices such as the consumer price index or GDP deflator.
Inflation Rate
The rate of increase of a specified price index, measured typically on an annual basis.
Inflationary Gap
The economics term 'inflationary gap' refers to the excess of the actual level of economic activity over the level corresponding to the non-accelerating inflation rate of unemployment, leading to increased inflation.
Information
Definition and meaning of information in the context of economics
Information Asymmetry
Information asymmetry occurs when one party in a transaction has more or better information than the other party.
Injections to the Circular Flow of Income
Injections to the circular flow of income refer to forms of spending that do not originate from current income such as investment spending by firms, government expenditure, and export sales to foreigners.
Inlier
An observation in a data set that lies within the interior of a distribution but is in error
Innocent Entry Barriers
Barriers to entry in an industry resulting from natural, technical, or social conditions, not deliberately designed to restrict entry.
Innovation - Definition and Meaning
Exploring the economic application of new ideas, including product, process, and business organization innovations.
Input Prices
The prices at which factors of production, including fuels, materials, and intermediate products, can be obtained.
input–output
Study of the flows of goods and services between different sectors of the economy.
Insider Dealing - Definition and Meaning
An informative dictionary entry on the concept of insider dealing, covering its definition, historical context, major analytical frameworks, and related terms.
Institutional Economics
The analysis of economics emphasizing the role of institutions in determining economic outcomes.
Institutional Shareholder
A comprehensive overview of Institutional Shareholders in the context of economics.
Insurance
The use of contracts to reduce and redistribute risk.
Insurance Company
A company whose main activity is providing various types of insurance policies and managing premium-generated assets.
Intangible Assets - Definition and Meaning
Exploration of intangible assets in economics, including their definitions, characteristics, and role in financial markets.
intensive margin
The margin affected by changes in the level to which an existing activity is undertaken.
Inter-Industry Trade
Trading scenario where a country's exports and imports consist of different types of goods, built on differences in factor endowments.
Interdependent Utility
Understanding the concept of Interdependent Utility and its implications in economic theory.
Interest
Payment for a loan additional to repayment of the amount borrowed.
Interest Payments
Understanding the concept and implications of interest payments in economics.